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Procurement of New Payments Architecture

Press releases were recently distributed by the Faster Payments Scheme Ltd (FPSL) to generate expressions of interest and to explain the competitive process for procuring a new central payment system, an element of the New Payments Architecture (NPA).

The procurement being led by FPSL is for the real-time 24/7 push payment clearing and settlement risk management system. The NPA will replace the Faster Payments System. Once Faster Payments becomes part of the New Payment System Operator (NPSO), which is consolidating the UK’s retail payment schemes, the NPSO will be responsible for further stages of the procurement process as well as the development of the rules and standards for the other components of the NPA.

For further information please refer to the Faster Payments Service website.

 


For further information please contact our Press Office on 020 3217 8309, or email press@newpso.uk.